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U.S. to impose tariffs on Samsung, LG washing machines

The U.S. government plans to slap tariffs on Samsung and LG washing machines as well as foreign solar panels sold in the States.
Kim Ji-yeon zooms in on how the latest decision made in tune with President Donald Trump's "America First" trade policies... could put Korean manufacturers at a severe disadvantage.
The U.S. Trade Representative's office announced a list of safeguard measures that the U.S. plans to impose on imports of Samsung and LG-made washing machines and solar panels.
U.S. Trade Representative Robert Lighthizer said on Tuesday that President Trump has made his final decision on the issue, adding that Trump's decision clearly reflects his willingness to defend American workers and businesses.
With the latest announcement, a twenty-percent tariff will be applied on imports of washing-machines under 1.2 million units, and a 50 percent tariff on imports exceeding the quota in the first year, with tariffs falling by 2 and 5 percent per year respectively for the following two years.
On imports of products in the solar industry, the tariff rate will be set at 30 percent, and will be reduced to a 15 percent tariff rate over the next four years, with the first two-point-five gigawatts being exempt from the tariff.
The new safeguard measures, which come 16 years after the U.S. imposed tariffs on imported steel products in 2002, are expected to deal a big blow to Korea's manufacturing firms.

Samsung and LG, two of Korea's major electronics manufacturers have been exporting a combined 1 billion dollars a year of large residential washing machines to the U.S., with Samsung holding 16 percent, and LG 13 percent, of the U.S. washing machine market share.